After several weeks of stability, the Turkish flat steel spot market has begun to reflect an upward shift, largely influenced by the recent rise in hot rolled coil (HRC) prices. The increase in HRC prices, supported by firmer scrap prices and tighter availability for January production, has prompted spot traders to adjust their quotations slightly higher. However, demand in the spot market remains weak, limiting the sustainability of these increases. Buyers continue to purchase only small volumes, and overall activity is subdued, leading many traders to continue to give discounts in response to inquiries for serious or large tonnages. Market players note that the price movement appears to be cost-driven rather than supported by genuine demand, believing that the current levels may be difficult to maintain unless purchasing interest improves.
“The market is very calm. Even though HRC mills are trying to push prices up, demand simply isn’t following. Most spot sellers are ready to give discounts because their stocks are full, and buyers are being very cautious ahead of the new year. At this stage, the price increase feels artificial rather than driven by real market demand,” a trader told SteelOrbis.
Workable domestic prices for hot rolled sheets stand at $580-600/mt ex-warehouse, up by $10/mt compared with last week. According to sources, larger traders are offering at around $600/mt ex-warehouse, while medium-sized and smaller traders are offering in the $580-590/mt ex-warehouse range.
Meanwhile, domestic cold rolled sheet prices have also risen ,by $10/mt to $660-710/mt ex-warehouse.
